This Corvette Could Fetch $1 Million At Auction – Here’s Why

The collector car world certainly has settled down in recent years when it comes to the pricing on average or even above-average cars. For a while there it seemed like any car with any amount of racing pedigree would fetch at least a half-million dollars. These days though, most collectors are a bit more discerning, only going after those cars with winning records and a legacy of legendary drivers.

At RM Auction’s Monterey event next month, there will be a 1968 Corvette L-88 up for grabs that had both famous drivers and a winning career. And it has the fingerprints of not one, not two, but three Corvette Hall of Famers on it. Among them are two racing legends; Tony DeLorenzo and Gerald “Jerry” Thompson.

Originally acquired by Tony, the son of GM exec John DeLorenzo, for the express purpose of racing, this ‘68 L-88 was driven by Jerry Thompson to several notable and important victories. This included the SCCA A/Production class domination by the one-two combo of Thompson and DeLorenzo, who drove a “service parts” L-88. The two would end up splitting 22 straight podium finishes.

Their success would encourage other Corvette racers to hit the track, but that isn’t the only reason this Corvette could fetch a million dollars or more. Unlike so many other race cars, there is an unbroken chain of ownership here. Furthermore, the car has undergone just two restorations, the most recent one taking the L-88 back to its victorious 1969 championship season with Randy Wittine (that third Corvette Hall of Famer) designing the Owens-Corning Fiberglass livery. This Corvette would go on to race for two straight decades, racking up an almost incomparable record of victory after victory.

And we would be remiss if we failed to mention the estimated 685-horsepower L-88 engine, plus all of the racing goodies that came standard on L-88 Corvettes from the factory. Everything is there, making this one of the most complete, and valuable Corvettes ever.

The car last sold in 2000 for $605,000. Pre-auction estimates put it in the $950,000 to $1.35 million range… and it very well could get sell for even more. Check out RM Auctions for more details.